Barack Obama joined with the socialist president of France to urge bankrupt European nations to spend more money they don’t have.Reuters reported:

U.S. President Barack Obama will press European leaders to ease up on fiscal austerity and focus on economic growth at a summit on Saturday that will discuss ways to stem turmoil in the euro zone and head off the risk of global contagion.

At the wooded Camp David retreat in Maryland’s Catoctin Mountains, Obama and leaders from other large economic powers will try to forge a common approach to tackling a crisis that threatens the future of Europe (Chicago Options: ^REURUSD – news) ‘s 17-nation single currency.

Though no major policy decisions are expected from the Group of Eight summit, leaders hope they can bridge enough of their differences to soothe rattled financial markets after worries about the risk of a Greek exit from the euro zone sent European stock prices to their lowest level since December.
“Hopefully we’ll get some stuff done,” Obama told Italian Prime Minister Mario Monti as he and other summit participants arrived for Friday evening dinner at a lodge at the secluded presidential retreat.

Obama earlier in the day aligned himself with Monti and new French President Francois Hollande by urging a solution to the euro zone crisis that combines fiscal belt-tightening measures with a “strong growth agenda.”

On the other side of the debate is German Chancellor Angela Merkel, who has pushed fiscal austerity as a means of bringing down huge debt levels that are burdening European economies.

Voters in euro zone countries have shown frustration with that approach, ejecting governments such as that of Nicolas Sarkozy, who wasdefeated by Hollande, a socialist, in the May 6 French presidential election.

He’s not just satisfied with obliterating the US economy. He wants to destroy Europe, too.

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Joe College

Pump it up until the election. After that, the whole world can go to hell. Who cares.

noway

yawn, what’s new in this? the fact is austerity measures will have to be used sooner or later. you can’t keep going back to the tap for more of fiat currency that has no real value due to overspending. btw we face the same here in usa. california is about to find out. this socialist in france will be doing good to last 18 months. when they find that nothing has improved and the good ole days are not coming back, then they have to face the fact that they have to rebuild by actually working to do it just like our grandparents did.

noway

let me further add they didn’t come as supplicants to the one as our media protrays. in fact the usa has been cut out of some of the g7 meetings on purpose. the usa is responsible for a lot of world financials issues only due to our overspending and huge debt. most of the world countries had had an audit and barry keeps running away from it. think about that. the truth is world leaders despise this cretin but don’t count on our hapless lapdog media to tell you.

Luby, When they were a few hundred million under reagan and we had fantastic growth… They were not a big deal but nver good

bg

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★ ~ ★ ~ ★ ~ ★ ~ ★ ~ ★

Happy Armed Forces Day

★ ~ ★ ~ ★ ~ ★ ~ ★ ~ ★

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Lubypaulanka

Republicans only care about deficits when a Democrat is president.

In other news — water wet!!!
🙂

chris

“Hopefully, we’ll get some stuff done.”

Pure awe inspiring genius from one of the greatest thinkers and wordsmiths of our era – perhaps of all eras. I am humbled to be a citizen whose life is dictated by such a brilliant and thoughtful intellect. And..did you see the creases on his pants? You could cut a steak with that crease!

Keep in mind, when it comes to economics, this is a president who was a “financial journalist.” He was so great a journalist that he never once used a by line or kept track of where he was published. I think he just anonymously donated his talents to others so they might earn a few bucks. He is sooooo modest.

Lubypaulanka

What we need is a president who resembles Bob Eubanks or Wink Martindale.

Democrats beat the market by 73 basis points per month, compared
to 18 for Republicans. That’s a rout anyway you look at it. Senators
fare even better than house members.

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Sasja

Luby may have won the prize for being the most stupid troll to ever visit this site.

Rachelle

Commie!

mcc

Thanks to bg #19 again for great links — from the first one:

When it comes to 2008, that year has to be taken in the context of the year with the worst financial crisis since the great depression, a crisis that was not, I repeat, was not created by the Bush economic policy, but by a housing entitlement programs created from the first CRA bill (Community Reinstatement Act) passed by the Clinton Administration and frequently supported and enhanced by the Democratic Congress (House and Senate) of 2004 to 2008. How easy we forget that before the crisis hit in 2008, the American voter, in its infinite wisdom, had given the power of legislating and expenditures back to the Democratic Party in 2004.

And then – at that same link – be sure to listen to Cavuto interviewing Mitt Romney in ’09 on video — “Romney Urges Republicans to Vote Against Stimulus” — (at the 2minute mark, he warns of all this spending/borrowing and a currency crisis.)

And don’t forget it was none other than our Brilliant Barry who, as an attorney, sued CitiBank to force them to make those lousy loans. “Hey, it’s only fair, guys! To he!! with common sense.”

My economic policies have an unimpeachable record… of driving America into the ditch. But, let’s not dwell on that.

Let me be clear with more spending and higher gas prices I can make Europe look like Tijuana Mexico except with more burned out cars and smelly slums.

In fact, with my economic policies we can bring down the value of the Euro to equal one Mexican peso. Call me a Socialist, call me a Marxist; call me a progressive. Most importantly, call me a Stuttering ClusterMuck of a Miserable Failure.

My policies may suck but at least my cronies got rich! My limousine is belching fumes and Barney Frank is in the back seat for another fund raiser. I know most Europe is gay so they should like a quickie with Barney… if they can afford the gas to drive to bathhouse. I cannot answer any more questions Good day.

badnewzbearz

That Barack Obama, he love him some debt . . .

badnewzbearz

BARRY: What you need Europe is more investments! Investments in clean, renewable energy and algae! And for about every $68 billion spent, you can create about 1300 green jobs!

Hangtown Bob

“Hopefully we’ll get some stuff done,” Obama told Italian Prime Minister Mario Monti as he and other summit participants arrived for Friday evening dinner at a lodge at the secluded presidential retreat.

Well…… The zerO certainly does have a good technical grasp of the subject of economics.